BridgeBio Pharma (NASDAQ:BBIO) Stock Price Expected to Rise, Scotiabank Analyst Says

BridgeBio Pharma (NASDAQ:BBIO) had its target price boosted by Scotiabank from $45.00 to $48.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has a sector outperform rating on the stock.

Several other brokerages have also issued reports on BBIO. Piper Sandler began coverage on BridgeBio Pharma in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 price target on the stock. Oppenheimer initiated coverage on BridgeBio Pharma in a research report on Thursday, October 3rd. They set a “market perform” rating on the stock. JPMorgan Chase & Co. decreased their price objective on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $70.00 target price on shares of BridgeBio Pharma in a research note on Monday, September 16th. Finally, Leerink Partners lowered their target price on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $48.43.

BridgeBio Pharma Stock Up 4.0 %

NASDAQ BBIO opened at $27.49 on Monday. The company has a market cap of $5.20 billion, a price-to-earnings ratio of -11.41 and a beta of 1.09. BridgeBio Pharma has a twelve month low of $21.62 and a twelve month high of $44.32. The business’s fifty day moving average is $25.00 and its 200 day moving average is $26.22.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,156 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total value of $93,135.96. Following the completion of the sale, the chief financial officer now owns 93,758 shares in the company, valued at approximately $2,101,116.78. This represents a 4.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Neil Kumar sold 27,389 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total transaction of $613,787.49. Following the transaction, the chief executive officer now directly owns 4,897,443 shares in the company, valued at approximately $109,751,697.63. The trade was a 0.56 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,831,545 shares of company stock valued at $150,056,923. 24.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Janus Henderson Group PLC raised its holdings in shares of BridgeBio Pharma by 11.7% in the 3rd quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock valued at $122,658,000 after buying an additional 505,481 shares during the period. Frazier Life Sciences Management L.P. raised its position in shares of BridgeBio Pharma by 3.5% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 3,760,457 shares of the company’s stock worth $95,741,000 after acquiring an additional 127,853 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of BridgeBio Pharma by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,413,949 shares of the company’s stock worth $86,936,000 after buying an additional 123,540 shares during the last quarter. Ensign Peak Advisors Inc lifted its position in BridgeBio Pharma by 44.5% in the second quarter. Ensign Peak Advisors Inc now owns 1,646,202 shares of the company’s stock valued at $41,698,000 after acquiring an additional 506,845 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of BridgeBio Pharma by 40.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,534,972 shares of the company’s stock valued at $38,881,000 after purchasing an additional 442,248 shares during the period. Institutional investors and hedge funds own 99.85% of the company’s stock.

About BridgeBio Pharma

BridgeBio Pharma, Inc, a commercial-stage biopharmaceutical company, discovers, creates, tests, and delivers transformative medicines to treat patients who suffer from genetic diseases and cancers. Its products in development programs include AG10, a next-generation oral small molecule near-complete TTR stabilizer that is in Phase 3 clinical trial for the treatment of TTR amyloidosis, or transthyretin amyloid cardiomyopathy (ATTR-CM); low-dose infigratinib, an oral FGFR1-3 selective tyrosine kinase inhibitor, which is in Phase 3 double-blinded, placebo-controlled pivotal study for the treatment option for children with achondroplasia; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 1/2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.